Monument Re has gone into a reinsurance agreement with Countrywide.
According to Countrywide, the firm entered into a new reinsurance agreement with Monument Re in Q4 2021, under which the latter would provide 100% reinsurance cover for the majority of annuity policies within the premium life and City of Westminster books of business.
Manfred Maske, group CEO of Monument Re, said: “It has been a pleasure to work with Chesnara and Countrywide and conclude this annuity reinsurance with Countrywide.”
Countrywide is a subsidiary of Chesnara, a life and pensions company listed on the London Stock Exchange.
The news comes just over a week after Monument Re announced that it had entered a reinsurance agreement with Aviva in respect of guaranteed annuity contracts.